U-Haul 2007 Annual Report Download - page 39

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33
e Company
2
es of business were $2.3 million and $5.8 million for the years ended December
3
ember 31, 2006 and 2005,
re
s incurred were $21.9 million and $22.6 million for the years ended December 31, 2006 and
2
for the years ended December 31,
2
ecrease is due to a reduction of general administrative expenses due to the exit of the non U-Haul
li
operations were $5.7 million and $1.1 million for years ended December 31, 2006 and 2005,
2
ines of business were $5.8 million and $6.1 million for the years ended December 31,
2
ly. The reduction was due to a decrease in RepWest’ s invested asset base and gains on capital assets sold
in
olicies combined with the absence
o
vely. The decreases are due to a reduction of in-force business related to the exit of non U-
H
due to a reduction of general administrative expenses resulting from the exit of the
n
m operations were $1.1 million and ($14.8) million for the years ended December 31, 2005 and
2004, respectively.
Republic Western Insuranc
006 Compared with 2005
Net premiums were $24.3 million and $26.0 million for the years ended December 31, 2006 and 2005,
respectively. U-Haul related premiums were $22.0 million and $20.2 million for the years ended December 31, 2006
and 2005, respectively. Other lin
1, 2006 and 2005, respectively.
Net investment income was $14.2 million and $11.4 million for the years ended Dec
spectively. The increase is due to an increase in short-term rates and sale of real estate.
Benefits and losse
005, respectively.
Amortization of deferred acquisition costs were $2.1 million and $2.9 million
006 and 2005, respectively. The decrease is due to decreased premium writings.
Operating expenses were $8.8 million and $10.8 million for years ended December 31, 2006 and 2005,
respectively. The d
nes of business.
Earnings from
respectively.
005 Compared with 2004
Net premiums were $26.0 million and $25.0 million for the years ended December 31, 2005 and 2004,
respectively. U-Haul related premiums were $20.2 million and $18.9 million for the years ended December 31, 2005
and 2004, respectively. Other l
005 and 2004, respectively.
Net investment income was $11.4 million and $16.4 million for the years ended December 31, 2005 and 2004,
respective
2004.
Benefits and losses incurred were $22.6 million and $39.7 million for the years ended December 31, 2005 and
2004, respectively. The decrease resulted from reduced exposure to non U-Haul p
f approximately $8.5 million of incurred losses in 2004 due to hurricane claims.
Amortization of deferred acquisition costs were $2.9 million and $4.7 million for the years ended December 31,
2005 and 2004, respecti
aul lines of business.
Operating expenses were $10.8 million and $11.8 million for the years ended December 31, 2005 and 2004,
respectively. The decrease was
on U-Haul lines of business.
Earnings (loss) fro